Neo-Concept International Group Holdings Limited(NCI)Earnings, Financials & Key Ratios
NCI•NASDAQ
$1.11
$23M mkt cap·21.7× P/E·Price updated May 7, 2026
SectorConsumer CyclicalIndustryApparel ManufacturingSub-IndustryApparel manufacturing, sourcing and textiles
AboutNeo-Concept International Group Holdings Limited provides one-stop apparel solution in Hong Kong. The company offers a suite of services in the apparel supply chain, including market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management. It sells knitwear/apparel products under the les 100 ciels brand. The company serves brand owners, apparel sourcing agents, and online fashion retailers primarily located in North America, the United Kingdom, and Europe. Neo-Concept International Group Holdings Limited was incorporated in 2021 and is based in Kwun Tong, Hong Kong. Neo-Concept International Group Holdings Limited operates as a subsidiary of Neo-concept (BVI) Limited.Show more
- Revenue$236M+35.3%
- EBITDA$18M+41.4%
- Net Income$8M+82.6%
- EPS (Diluted)0.40+81.8%
- Gross Margin20.98%+4.3%
- EBITDA Margin7.47%+4.5%
- Operating Margin4.91%-5.4%
- Net Margin3.42%+35.0%
- ROE29.62%
- ROIC10.61%-51.4%
- Debt/Equity1.22
- Interest Coverage3.08+96.0%
NCI Key Insights
Neo-Concept International Group Holdings Limited (NCI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 29.6%
- ✓Efficient asset utilization: 1.7x turnover
✗Weaknesses
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 5 (bottom 5%)
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Thin 5Y average net margin of 2.0%
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
NCI Price & Volume
Neo-Concept International Group Holdings Limited (NCI) stock price & volume — 10-year historical chart
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NCI Growth Metrics
Neo-Concept International Group Holdings Limited (NCI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-0.68%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years13.94%
TTM-
EPS CAGR
10 Years-
5 Years-
3 Years14%
TTM-
Return on Capital
10 Years51.2%
5 Years51.2%
3 Years51.2%
Last Year19.76%
NCI Peer Comparison
Neo-Concept International Group Holdings Limited (NCI) competitors in Apparel manufacturing, sourcing and textiles — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 BTBT | 589.49M | 1.83 | 9.15 | 264.59% | 21.41% | 0.03 | ||
 CLPS | 25.36M | 0.91 | -3.48 | 15.17% | -1.27% | -6.06% | 0.59 | |
 CODA | 134.12M | 11.90 | 32.16 | 30.75% | 14.78% | 7.17% | 0.01 | |
 GIII | 1.32B | 31.30 | 20.73 | -7.04% | 2.28% | 3.88% | 0.01 | |
 PVH | 4.06B | 88.62 | 8.39 | -6.13% | 5.34% | 9.63% | 0.66 | |
 HBI | 2.29B | 6.47 | -7.11 | -3.63% | 9.59% | 73.92% | 75.02 | |
 COLM | 3.31B | 63.32 | 19.54 | 0.84% | 4.98% | 10.26% | 0.51 | |
 VFC | 7.45B | 19.06 | -38.90 | -9.09% | 2.33% | 12.52% | 3.61 |
Compare NCI vs Peers
Neo-Concept International Group Holdings Limited (NCI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NCI Income Statement
Neo-Concept International Group Holdings Limited (NCI) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Sales/Revenue | 182.58M | 240.54M | 347.45M | 174.2M | 235.67M | - |
| Revenue Growth % | - | 31.74% | 44.45% | -49.86% | 35.28% | - |
| Cost of Goods Sold | 170.93M | 217.94M | 305.62M | 139.15M | 186.22M | - |
| COGS % of Revenue | 93.62% | 90.61% | 87.96% | 79.88% | 79.02% | - |
| Gross Profit | 11.65M▲ 0% | 22.59M▲ 93.9% | 41.83M▲ 85.2% | 35.05M▼ 16.2% | 49.44M▲ 41.1% | -▲ 0% |
| Gross Margin % | 6.38% | 9.39% | 12.04% | 20.12% | 20.98% | - |
| Gross Profit Growth % | - | 93.85% | 85.17% | -16.22% | 41.08% | - |
| Operating Expenses | 13.86M | 15.81M | 22.9M | 26M | 37.87M | - |
| OpEx % of Revenue | 7.59% | 6.57% | 6.59% | 14.93% | 16.07% | - |
| Selling, General & Admin | 14.63M | 17.83M | 22.75M | 21.36M | 30.59M | - |
| SG&A % of Revenue | 8.01% | 7.41% | 6.55% | 12.26% | 12.98% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | - |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 2.22M | 2.9M | 0 | 4.64M | 7.29M | - |
| Operating Income | -3.65M▲ 0% | 4.47M▲ 222.5% | 18.94M▲ 323.3% | 9.05M▼ 52.2% | 11.57M▲ 27.9% | -▲ 0% |
| Operating Margin % | -2% | 1.86% | 5.45% | 5.19% | 4.91% | - |
| Operating Income Growth % | - | 222.55% | 323.31% | -52.22% | 27.91% | - |
| EBITDA | -3.33M | 4.51M | 18.95M | 12.45M | 17.6M | - |
| EBITDA Margin % | -1.82% | 1.88% | 5.46% | 7.15% | 7.47% | - |
| EBITDA Growth % | - | 235.42% | 320.25% | -34.31% | 41.38% | - |
| D&A (Non-Cash Add-back) | 319.74K | 37.03K | 18.96K | 3.41M | 6.03M | - |
| EBIT | -324.67K | 9.68M | 21.51M | 11.5M | 12.91M | - |
| Net Interest Income | -2.87M | -2.49M | -6.13M | -5.67M | -3.73M | - |
| Interest Income | 0 | 0 | 0 | 92.95K | 31.95K | - |
| Interest Expense | 2.87M | 2.49M | 6.13M | 5.76M | 3.76M | - |
| Other Income/Expense | 455.44K | 2.72M | -3.55M | -3.31M | -2.42M | - |
| Pretax Income | -3.19M▲ 0% | 7.19M▲ 325.1% | 15.38M▲ 113.8% | 5.74M▼ 62.7% | 9.15M▲ 59.4% | -▲ 0% |
| Pretax Margin % | -1.75% | 2.99% | 4.43% | 3.29% | 3.88% | - |
| Income Tax | 133.48K | 1.74M | 2.98M | 1.33M | 1.09M | - |
| Effective Tax Rate % | -4.18% | 24.22% | 19.37% | 23.09% | 11.87% | - |
| Net Income | -3.33M▲ 0% | 5.45M▲ 263.8% | 12.4M▲ 127.5% | 4.41M▼ 64.4% | 8.06M▲ 82.6% | -▲ 0% |
| Net Margin % | -1.82% | 2.27% | 3.57% | 2.53% | 3.42% | - |
| Net Income Growth % | - | 263.77% | 127.51% | -64.4% | 82.65% | - |
| Net Income (Continuing) | -3.33M | 5.45M | 12.4M | 4.41M | 8.06M | - |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | - |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | - |
| EPS (Diluted) | -0.22▲ 0% | 0.27▲ 222.7% | 0.62▲ 129.6% | 0.22▼ 64.5% | 0.40▲ 81.8% | -▲ 0% |
| EPS Growth % | - | 222.73% | 129.63% | -64.52% | 81.82% | - |
| EPS (Basic) | -0.22 | 0.27 | 0.62 | 0.22 | 0.40 | - |
| Diluted Shares Outstanding | 15M | 20M | 20M | 20M | 20.32M | 20.32M |
| Basic Shares Outstanding | 15M | 20M | 20M | 20M | 20.32M | 20.32M |
| Dividend Payout Ratio | - | 4.89% | - | - | - | - |
NCI Balance Sheet
Neo-Concept International Group Holdings Limited (NCI) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Total Current Assets | 56.12M | 39.74M | 40.89M | 63.74M | 72.34M | - |
| Cash & Short-Term Investments | 421.5K | 1.43M | 8.59M | 5.85M | 9.17M | 9.17M |
| Cash Only | 421.5K | 1.43M | 8.59M | 5.85M | 9.17M | 9.17M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | - |
| Accounts Receivable | 54.31M | 37.05M | 26.61M | 32.34M | 35.16M | - |
| Days Sales Outstanding | 108.58 | 56.22 | 27.96 | 67.77 | 54.46 | - |
| Inventory | 1.33M | 680.02K | 1.3M | 5.32M | 3.62M | - |
| Days Inventory Outstanding | 2.83 | 1.14 | 1.55 | 13.95 | 7.09 | - |
| Other Current Assets | 11.43K | 584.03K | 4.25M | 8.2M | 3.59K | - |
| Total Non-Current Assets | 7.93M | 483.04K | 987.6K | 26.88M | 63.31M | - |
| Property, Plant & Equipment | 6.9M | 21.77K | 708.27K | 25.18M | 47.24M | - |
| Fixed Asset Turnover | 26.45x | 11050.51x | 490.56x | 6.92x | 4.99x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | - |
| Intangible Assets | 426.59K | 274.69K | 112.05K | 0 | 13.54M | - |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | - |
| Other Non-Current Assets | 588.63K | 178.71K | 159.4K | 1.7M | 2.33M | - |
| Total Assets | 64.04M▲ 0% | 40.23M▼ 37.2% | 41.87M▲ 4.1% | 90.62M▲ 116.4% | 135.65M▲ 49.7% | 135.65M▲ 0% |
| Asset Turnover | 2.85x | 5.98x | 8.30x | 1.92x | 1.74x | - |
| Asset Growth % | - | -37.19% | 4.09% | 116.41% | 49.69% | - |
| Total Current Liabilities | 140.42M | 115.29M | 102.17M | 69.83M | 39.3M | - |
| Accounts Payable | 52.16M | 84.61M | 10.43M | 0 | 0 | - |
| Days Payables Outstanding | 111.38 | 141.71 | 12.46 | - | - | - |
| Short-Term Debt | 60.71M | 27.47M | 83.96M | 30.75M | 27.11M | - |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | - |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | - |
| Current Ratio | 0.40x | 0.34x | 0.40x | 0.91x | 1.84x | 1.84x |
| Quick Ratio | 0.39x | 0.34x | 0.39x | 0.84x | 1.75x | 1.75x |
| Cash Conversion Cycle | 0.03 | -84.35 | 17.05 | - | - | - |
| Total Non-Current Liabilities | 2.28M | 525.62K | 375.06K | 23.18M | 39.52M | - |
| Long-Term Debt | 529.13K | 525.62K | 375.06K | 0 | 0 | - |
| Capital Lease Obligations | 1.76M | 0 | 0 | 23.18M | 38.6M | - |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 920.14K | - |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | - |
| Total Liabilities | 142.71M | 115.82M | 102.55M | 93M | 78.82M | - |
| Total Debt | 64.26M | 28M | 84.99M | 54.64M | 69.6M | 69.6M |
| Net Debt | 63.83M | 26.57M | 76.4M | 48.79M | 60.43M | 60.43M |
| Debt / Equity | - | - | - | - | 1.22x | 1.22x |
| Debt / EBITDA | - | 6.21x | 4.48x | 4.39x | 3.95x | - |
| Net Debt / EBITDA | - | 5.89x | 4.03x | 3.92x | 3.43x | 3.43x |
| Interest Coverage | -1.27x | 1.79x | 3.09x | 1.57x | 3.08x | - |
| Total Equity | -78.66M▲ 0% | -75.59M▲ 3.9% | -60.68M▲ 19.7% | -2.39M▲ 96.1% | 56.83M▲ 2480.9% | 56.83M▲ 0% |
| Equity Growth % | - | 3.91% | 19.73% | 96.07% | 2480.85% | - |
| Book Value per Share | -5.24 | -3.78 | -3.03 | -0.12 | 2.80 | 2.80 |
| Total Shareholders' Equity | -78.66M | -75.59M | -60.68M | -2.39M | 56.83M | 56.83M |
| Common Stock | 8.78K | 8.78K | 8.78K | 8.78K | 9.91K | - |
| Retained Earnings | -78.08M | -75.15M | -62.75M | -58.33M | -50.27M | - |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | - |
| Accumulated OCI | -681.48K | -543.42K | 1.97M | 844.79K | 998.97K | - |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | - |
NCI Cash Flow Statement
Neo-Concept International Group Holdings Limited (NCI) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|
| Cash from Operations | 6.28M | 10.27M | -42.76M | -49.23M | 428.24K | 428.24K |
| Operating CF Margin % | 3.44% | 4.27% | -12.31% | -28.26% | 0.18% | - |
| Operating CF Growth % | - | 63.44% | -516.34% | -15.12% | 100.87% | - |
| Net Income | -3.33M | 5.45M | 12.4M | 4.41M | 8.06M | - |
| Depreciation & Amortization | 319.74K | 287.87K | 148.47K | 3.41M | 2.17M | - |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | - |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | - |
| Other Non-Cash Items | 358.95K | -360.69K | 7M | 1.45M | 1.28M | - |
| Working Capital Changes | 8.93M | 4.53M | -55.31M | -58.5M | -11.08M | - |
| Change in Receivables | -42.56M | -29.74M | 19.37M | -23.39M | -4.07M | - |
| Change in Inventory | -851.27K | 646.29K | -619.88K | -4.09M | 1.68M | - |
| Change in Payables | 52.06M | 32.55M | -74.18M | -10.43M | 0 | - |
| Cash from Investing | -115.89K | -78.19K | -73.53K | -1.28M | -19.17M | - |
| Capital Expenditures | -115.89K | -78.19K | -73.53K | -1.28M | -4.14M | - |
| CapEx % of Revenue | 0.06% | 0.03% | 0.02% | 0.73% | 1.76% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | - |
| Investments | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | -15.02M | - |
| Cash from Financing | -6.48M | -9.19M | 50M | 47.55M | 21.89M | - |
| Debt Issued (Net) | -238.56K | 22.72M | 56.34M | -53.58M | -3.65M | - |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 1000K | - |
| Dividends Paid | 0 | -266.56K | 0 | 0 | 0 | - |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | - |
| Other Financing | -6.24M | -31.64M | -6.34M | 101.13M | -40.1M | - |
| Net Change in Cash | -308.13K▲ 0% | 1.01M▲ 426.7% | 7.16M▲ 611.7% | -2.95M▼ 141.2% | 3.32M▲ 212.3% | -▲ 0% |
| Free Cash Flow | 6.17M▲ 0% | 10.19M▲ 65.2% | -42.83M▼ 520.3% | -50.5M▼ 17.9% | -18.74M▲ 62.9% | -▲ 0% |
| FCF Margin % | 3.38% | 4.24% | -12.33% | -28.99% | -7.95% | - |
| FCF Growth % | - | 65.24% | -520.25% | -17.9% | 62.89% | - |
| FCF per Share | 0.41 | 0.51 | -2.14 | -2.53 | -0.92 | -0.92 |
| FCF Conversion (FCF/Net Income) | -1.89x | 1.88x | -3.45x | -11.15x | 0.05x | - |
| Interest Paid | 0 | 0 | 6.1M | 6.13M | 3.31M | - |
| Taxes Paid | 0 | 0 | 22K | 3.31M | 1.89M | - |
NCI Key Ratios
Neo-Concept International Group Holdings Limited (NCI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | - | 29.62% | - |
| Return on Invested Capital (ROIC) | - | 90.33% | 21.84% | 10.61% | 10.61% |
| Gross Margin | 9.39% | 12.04% | 20.12% | 20.98% | - |
| Net Margin | 2.27% | 3.57% | 2.53% | 3.42% | - |
| Debt / Equity | - | - | - | 1.22x | 1.22x |
| Interest Coverage | 1.79x | 3.09x | 1.57x | 3.08x | - |
| FCF Conversion | 1.88x | -3.45x | -11.15x | 0.05x | - |
| Revenue Growth | 31.74% | 44.45% | -49.86% | 35.28% | - |
NCI Frequently Asked Questions
Neo-Concept International Group Holdings Limited (NCI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Neo-Concept International Group Holdings Limited (NCI) reported $235.7M in revenue for fiscal year 2024. This represents a 29% increase from $182.6M in 2020.
Neo-Concept International Group Holdings Limited (NCI) grew revenue by 35.3% over the past year. This is strong growth.
Yes, Neo-Concept International Group Holdings Limited (NCI) is profitable, generating $8.1M in net income for fiscal year 2024 (3.4% net margin).
Dividend & Returns
Neo-Concept International Group Holdings Limited (NCI) has a return on equity (ROE) of 29.6%. This is excellent, indicating efficient use of shareholder capital.
Neo-Concept International Group Holdings Limited (NCI) had negative free cash flow of $18.7M in fiscal year 2024, likely due to heavy capital investments.
Explore More NCI
Neo-Concept International Group Holdings Limited (NCI) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
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Dividend History
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Earnings History
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Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
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